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Dollar-Value LIFO Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the

Dollar-Value LIFO

Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $300,000. Inventory data for succeeding years are as follows:

Year Inventory at Respective Year-End Prices Price Index (Base Year 2018)
2019 $325,500 1.05
2020 414,000 1.15
2021 408,000 1.20

Required:

Compute the ending inventory using the dollar-value LIFO method for 2019, 2020, and 2021. Do not round your intermediate calculations. If required, round your answers to the nearest dollar.

December 31, 2019 $fill in the blank 1
December 31, 2020 $fill in the blank 2
December 31, 2021 $fill in the blank 3

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